RE: [OPE] Chartalist theory of money

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Paul B

Dave Z,

I guess you must have read the chapter on money and its continuation in the Grundrisse. The subject has so much been written about .. there were even competitions in the nineteenth century for essays on the subject. Thus 'The Standard of Value' 'Prize Essay, Institute of Bankers in Scotland, Session 1886-7 by Edwin G Galletly, British Linen Bank, Edinburgh. ( Reprinted in 'The Banking World' a book published at the time, as usual no date..). Naturally Shell currencies are well treated. All these monies developed in intercommunal trade, but with a prexisting sense of cultural similarity. The thing is that all these 'primitive' monies existed centuries after the Roman Moneta....
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Paulc
Yes but in societies that lacked a central state
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Paul B
the logical development of modern money has a parallel with historical development, but no absolute coexistence, as Marx often pointed out. What would be more interesting would be to study the periodic reemergence of local currencies eg chiemgauer,urstromtaler, landmark, kirschblute etc... that are contemporary. How is the modern ongoimng crisis of capitalism being responded to spontaneously in local communities?
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Paul C

These examples all are more like Innes argument that money is ultimately credit, since they are recording systems.

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Received on Wed Jun 10 07:55:07 2009